Merrick, NY—Normally a slow time for the jewelry industry, August gave jewelers some time for introspection. As luxury companies across the spectrum addressed risks to their businesses, respondents to The Centurion’s spot-check survey identified their biggest perceived risks as well. After a decades-long hiatus, Montana sapphires are back, while Florida jeweler Mayors changes hands again. A new report emerged citing second-hand goods as the biggest growth area in luxury retail, while the tragic events in Charlottesville, VA, reignited the ongoing question of whether a business owner can fire an employee for off-the-clock behavior.
At press time, news of the devastating floods in Houston, TX, was just emerging; more information will become available as jewelers and residents begin cleaning up.
In case you missed any, here were the top stories of August: